Without wheat no bread.

Wheat is the dominant grain of world commerce. It is easily transported and stored and it is used to produce a large variety of foods that include many kinds and types of breads, cakes, noodles, crackers, breakfast foods, biscuits, cookies, and confectionary items.
Wheat is the staple food of millions of people. It is also an important part of the daily diet of many millions more. Only rice challenges wheat for the title of most important food grain in the world.
Approximately two-thirds of the wheat produced in the world is used for human food and about one-sixth is used for livestock feed. Industrial uses, seed requirements, and post-harvest losses account for the remaining withdrawals from the world wheat granaries.
Bread is a major commodity in the world. Millions of loaves are produced in automated bakeries every day.The people who are hurt most by rising food prices are the world's poorest, who spend a large portion of their income on basic food. In poorer countries where labour is cheap and packaging minimal, the price of bread is mostly the price of wheat. That is why driving prices up unnecessarily can really hurt the poor. Fears of a shortage can by themselves create shortage, as countries and individuals buy more than they need and keep it for themselves.
Top wheat producers:--
China … 96.2 million tonnes (15.4% of global wheat production)
India … 72 million (11.5%)
United States … 57.1 million (9.1%)
Russia … 45.5 million (7.3%)
France … 36.9 million (5.9%)
Canada … 25.5 million (4.1%)
Australia … 24.1 million (3.8%)
Germany … 23.6 million (3.8%)
Pakistan … 21.6 million (3.4%)
Turkey … 21 million (3.4%)

Top wheat exporters:--
United States … 31.6 million tonnes (29.9% of wheat exports from top 10 exporting countries)
Australia … 18.5 million (17.5%)
Canada … 15.1 million (14.3%)
France … 14.9 million (14.1%)
Argentina … 10 million (9.5%)
Russia … 4.7 million (4.5%)
Germany … 3.9 million (3.7%)
United Kingdom … 2.5 million (2.4%)
Kazakhstan … 2.4 million (2.3%)
India … 2 million (1.9%)

Top wheat importers:--
China … 7.2 million tonnes (14.6% of wheat imports from top 10 importing countries)
Japan … 5.5 million (11.2%)
Italy … 6.5 million (13.2%)
Algeria … 5 million (10.1%)
Brazil … 4.8 million (9.7%)
Indonesia … 4.5 million (9.1%)
Spain … 4.4 million (8.9%)
Egypt … 4.4 million (8.9%)
Mexico … 3.6 million (7.3%)
South Korea … 3.4 million (6.9%)
The Dow on Friday is 5 market days to index/options futures expiry.

9:30am:--A weak bull opener. The U.S. consumer price index rose 0.3% in July

10:30am:--Pulback from high,bearish hammer.Retail stocks fell.

11:30am:--Bearish hangman.

12:30noon:--After settling with a morning low,stocks have rebounded piercing through the MAV resistance line.Helped by strength in Bank of America Corp. and recently down-trodden Hewlett-Packard Co.'s 1:30pm:--Bearish candlestick at the high for second time.Consumer sentiment ticks up in August.

2:30pm:--Pullback to MAV support line,a hangman noticeable. Mixed economic data did little to convince investors of the recovery's strength.

3:30pm:--Attempteed rebound failed,a bearish hammer followed.

4:00pm:--Breakaway bear,gap down.Many traders are on vacation or out of the market because of the uncertainty. That helped send stocks fluctuating Friday before they finally closed lower with low volume turnover.

Four straight days of losses to the Dow Index.Additional signs that the strength of the global recovery is waning sparked selling pressure, resulting in sharp losses for the major indices.

Overseas data that supported the notion of a slowdown in the global recovery weighed on U.S. stocks. China reported weaker-than-expected retail sales and the Bank of England lowered its economic outlook.

Friday's bearish spinning doji is holding tightly within previous day's candle's lower shadow.There are chances that short-covering of positions to occur before the index/options expiry day.